19th BNB Burn
For this past quarter, BNB completed its second quarterly BNB Auto-Burn. A total of 1,839,786.26 BNB, or the equivalent of $741,840,738.874 USD, was removed from circulation. This includes 9,403.78 BNB that was burned from the Pioneer Burn Program.
Here are the facts and figures from our latest burn:
Total BNB burned: 1,839,786.26 BNB
Approximate value in USD: ~$741,840,738.874 USD
Transaction ID (TXID) for BNB burn: View transaction
BNB burned from the Pioneer Burn Program: 9,403.78 BNB
What You Need to Know About BNB Burn
Since the launch of BNB and Binance in 2017, Binance has committed to removing 100 million BNB, or half of the total supply from circulation, through a process called burning. The number of tokens removed is automatically calculated according to the Auto-Burn Formula. This burn mechanism was introduced in the last quarter of 2021.
Previously, BNB burns reflected the tokens’ usage and revenue generated in the Binance centralized exchange. As a result of the community’s feedback, the BNB Auto-Burn has replaced the previous burn mechanism in favour of a more objective process independent of the Binance centralised ecosystem. That being said, BNB will still continue to burn a portion of BNB Chain’s gas fees in real-time.
The real-time BNB burning information can be found here.